Rite Aid (NYSE:RAD) Announces Quarterly Earnings Results, Beats Estimates By $0.34 EPS

Rite Aid (NYSE:RAD) issued its quarterly earnings results on Thursday. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.34, MarketWatch Earnings reports. Rite Aid had a negative net margin of 1.84% and a positive return on equity of 1.53%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.61 billion. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year.

RAD opened at $15.09 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.34 and a debt-to-equity ratio of 8.61. Rite Aid has a 52-week low of $5.04 and a 52-week high of $23.88. The company has a 50 day moving average of $13.17 and a two-hundred day moving average of $13.44. The company has a market cap of $891.12 million, a P/E ratio of 65.16 and a beta of 0.88.

Several brokerages recently commented on RAD. ValuEngine lowered shares of Rite Aid from a “hold” rating to a “sell” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. upped their price target on shares of Rite Aid from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday. Zacks Investment Research raised shares of Rite Aid from a “sell” rating to a “hold” rating and set a $13.00 price target for the company in a research report on Thursday, May 7th. Finally, Deutsche Bank boosted their price objective on shares of Rite Aid from $12.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.

About Rite Aid

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and an assortment of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.

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Earnings History for Rite Aid (NYSE:RAD)

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